Market Infrastructure

Market Infrastructure

APRA to Replace Outdated Financial Data Collection Platform

By Garima Chitkara | 07/08/2018

Australia’s prudential regulator says its current data collection system requires a significant overhaul to match current flows of digitised data and regulatory requirements, plans to release tender for new solution by end of month and implement new system by end of 2019.

Enforcement

The Banking Industry’s $850bn Behavioural Problem

By Benjamin Quinlan | 07/08/2018

If banks are serious about avoiding future fines and losses, the solution lies first and foremost in developing a robust risk culture across the entire organisation.

Market Infrastructure

Australia Finds Banking Oligopoly Detrimental To Consumers

By Garima Chitkara | 06/08/2018

The Productivity Commission report urges for more competition in Australia’s banking sector – a recommendation re-enforced by Treasurer Scott Morrison in a speech to industry executives.

Enforcement

India Probes Metropolitan Stock Exchange for Fraud, Mismanagement

By Garima Chitkara | 06/08/2018

The MSEI is under investigation by the government of India and SEBI for alleged fraud and mismanagement, and has hired a forensic auditor to look into the allegations made by two whistleblowers.

Market Infrastructure

China’s Opening Up to Foreign Third Party Online Payment Firms

By Peter Guy | 06/08/2018

Stricter regulations are intended to limit abuses, improve government oversight and allow the entry of foreign enterprises for the first time. But, a more comprehensive framework is needed to manage systemic risk posed by the sector’s rise.

Market Infrastructure

SFC to Assess Licensed Firms for FRTB Adoption Readiness

By Manesh Samtani | 06/08/2018

Pending an update from the Basel Committee on FRTB, the SFC will assess the readiness of LCs to adopt the internal models approach for market risk based on the Basel II.5 framework.

Fintech / Regtech

China’s Ant Financial and WeBank – ‘Too Big to Regulate’

By Peter Guy | 02/08/2018

The Chinese government has allowed unregulated online participants to innovate and grow in a sector traditionally dominated by state banks. Systemic risk has increased by not imposing strict and comprehensive regulatory regimes.

Market Infrastructure

Thailand Banks Hit by Cyber Attack Resulting in Data Leak

By Garima Chitkara | 02/08/2018

Hackers have stolen non-financial data of over 120,000 customers from Kasikornbank and Krungthai Bank in the first such data leak in the Thai banking sector.

Market Infrastructure

IOSCO Issues Recommendations on Managing Extreme Volatility

By Editors | 02/08/2018

IOSCO believes volatility control mechanisms support the goal of ensuring markets are fair, efficient and transparent, thereby increasing market integrity and investor confidence.